Solana Price Prediction: SOL Surges 11%, But Experts Say Consider This New Layer-2 Presale Crypto With 10X Potential

The Solana price surged more than 11% in the last 24 hours to trade at $115.73 as of 10:16 p.m. EST as investors rush to buy the altcoin.

The increase in the SOL price coincided with an 8% rebound in the broader crypto market in the last 24 hours, which saw Bitcoin soar to back above $81K and Ethereum rise over 13%.

Solana Price Trying To Flip A Resistance Level Into Support

4-hour chart for SOL/USDT (Source: GeckoTerminal)

The Solana price is attempting a challenge at the $118.64 resistance level, data from GeckoTerminal shows. Clearing this technical obstacle could give the altcoin the foundation needed to rise to the next major mark at $133.50 in the short term.

However, a rejection from the $118.64 resistance level could result in a pullback for the Solana price and a potential test of the nearest support at $106.68. Falling below this technical safety net might result in a plunge to as low as $97.26 if extreme sell pressure persists.

Technicals Suggest The Solana Price Might Continue To Rise

Looking at technicals on the 4-hour chart, there are signs that suggest the Solana price will keep climbing over the next few hours. More specifically, the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) indicate a bullish scenario is more likely to play out.

That’s after the RSI broke above the neutral 50 mark in the last 24 hours, indicating that buyers have gained an upper hand against sellers. While RSI readings have dropped slightly in the last couple of hours, the indicator remains above 50, leaving open the possibility of a continued climb for SOL.

The current reading in the mid 50s also suggests that there is still room for the Solana price to climb before it reaches overbought territory. 

Momentum currently favors bulls as well, as suggested by the MACD line that is positioned above the MACD Signal line. Additionally, the gap between the two technical indicators continues to grow. This is often interpreted as a sign of strengthening bullish momentum.

If traders act on the signals presented by the MACD and RSI on the 4-hour chart, they might push the Solana price to above the $118.64 resistance soon.

While Solana price technicals flash bullish, investors continue to flock to the presale for layer-2 crypto Solaxy (SOLX).

According to popular YouTube channel 99Bitcoins, which has over 725K subscribers, SOLX could soar 10X after launch.

Solana About To Get Its Biggest Upgrade Yet

The Solana network is battling with high levels of congestion due to the recent hype around SOL-based meme coins, which even saw the US President jump on the bandwagon and launch his own token at the start of the year. If something does not change soon, the high levels of traffic could result in another outage for the layer-1 Solana network.

This is where Solaxy comes in. The project, through its native sidechain and layer-2 scaling technologies, aims to reduce a large portion of the stress being placed on Solana’s infrastructure. 

One of the ways that Solaxy helps Solana is by processing SOL transactions off of the mainnet and on its own blockchain. There, it bundles transactions before sending them to Solana for final validation.

Solaxy’s approach to transaction processing has been tried and tested within the Ethereum ecosystem. It has also been proven as a successful way to help a layer-1 blockchain facilitate more transactions without compromising on speeds or increasing transaction fees.

In addition to helping Solana scale, Solaxy will also bridge the Solana and Ethereum blockchains. This will create a new and improved Web3 platform capable of meeting the growing needs of meme coin and decentralized application developers. 

SOLX will then be positioned as a primary transaction layer between two of the most prominent blockchains in the crypto space.

Investors Bet Big On SOLX’s Future

While still in the presale phase, there has already been strong market demand for Solaxy. This has resulted in a total ICO raise of more than $29.5 million, which is likely to rise given the attractive presale staking rewards up for grabs. 

Anyone who buys and stakes SOLX now will unlock a 138% APY. To get in on the rewards, investors will first need to purchase some SOLX, which sells for $0.00169 apiece, via the simple widget embedded on the project’s website using either crypto or bank card.

Once bought, investors can then put their tokens to work by navigating to the staking page on the project’s website and locking up their tokens.

Buyers who want to secure the best deal will want to act fast, because SOLX’s price will undergo a presale hike in less than 40 hours.

Visit the Solaxy website.

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